Shipping Rates Of Russian Crude To India Surge 20% Amid Sanctions
By Alex Kimani of OilPrice.com
Freight rates to ship Russian urals from Baltic ports to India jumped 20% in February to $7 million to $8 million per voyage after the Biden administration imposed harsher sanctions on Russian crude.
Russia’s provisional February loading plan for western ports was revised up by 19% to 1.9 million barrels per day, Reuters calculations showed early this month. Russian refineries are processing more crude oil in the hope of boosting fuel exports after the Biden administration imposed fresh sanctions on Russian crude. The sanctions have targeted Surgutneftgas and Gazprom Neft, two Russian oil firms that handle 25% of Russian oil exports. The two companies shipped an average of 970,000 bbls a day in 2024.
“We have to utilize oil processing as much as we can in order to use (the sanctioned) oil,” a Russian industry source said.
Middlemen who supply Russian oil have stopped offering cargoes after the latest U.S. sanctions, Bharat Petroleum CFO has revealed. Bharat Petroleum and other Indian state refiners buy Russian oil in the spot market, mainly from traders.
“We have not received any new offers for the March window (delivery). Traders are asking us to wait. We are waiting to get offers,” Vetsa Ramakrishna Gupta told Reuters.
“We are not expecting the similar number of cargoes that we used to get in the months of December and January,” he added.
The Indian government is considering extra energy imports from the United States, as Prime Minister Narendra Modi visits the country and a scheduled meeting with U.S. President Donald Trump. Modi is set to hold bilateral talks with Trump.
Meanwhile, India’s oil demand growth is estimated to have exceeded China’s for the first time in 2024, and is expected to do so again in 2025. According to Kang Wu, global head of macro and oil demand research at SPGCI, India’s oil demand in the current year grew by 180,000 barrels per day, surpassing China’s growth at 148,000 bpd. India’s oil demand is expected to increase by 3.2% Y/Y in 2025 compared to a 1.7% clip by China.
Tyler Durden Fri, 02/14/2025 – 03:30
Source: https://freedombunker.com/2025/02/14/shipping-rates-of-russian-crude-to-india-surge-20-amid-sanctions/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,677,706,875 |
| Stories: | 8,354,470 |
Whistler Blowers, Insiders
